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Saudi Chemical posts SAR 80m net profits in 2022

Saudi Chemical posts SAR 80m net profits in 2022
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CHEMICAL
2230
187.88% 11.40 7.44

Riyadh – Mubasher: Saudi Chemical Company recorded net profits after Zakat and tax worth SAR 80 million in 2022, up 14.29% year-on-year (YoY) from SAR 70 million.

Revenues increased by 8.36% to SAR 3.69 billion last year from SAR 3.41 billion in 2021, according to the income statements.

Meanwhile, the earnings per share (EPS) hit SAR 0.95 as of 31 December 2022, higher than SAR 0.83 a year earlier.

In the first nine months (9M) of 2022, the company’s net profits after Zakat and tax reached SAR 56.83 million, lower by 25.07% YoY than SAR 75.85 million.

The revenues declined by 1.26% to SAR 2.62 billion in 9M-22 from SAR 2.65 billion in 9M-21, whereas the EPS plummeted to SAR 0.67 from SAR 0.90.